ALTCOIN BREAKOUT

Dogecoin pumps anytime it gets a new social media mention, and this time it was Elon Musk, it is back k to the five cents range. Dogecoin gained 25% in minutes yesterday after a fresh endorsement from the world's richest man, and it could keep rising as well since it has become a trend of Elon Musk to post about Dogecoin.

The market today is looking pretty good; Cardano ADA is starting to pump up, and it seems like it is going to be testing fifty cents within the next twelve hours, and there is a possibility that it is going to move upwards toward one dollar in February because of the massive updates. They are already getting close to the final phases of Goguen Mainnet, and it should be ready by March.

Binance BNB coin is finally moving up, flipping Bitcoin cash and taking the ninth spot in market capital. Binance could move up more in the upcoming week or two. It is solving the problem with the Ethereum network fees.

Ethereum gas fees have become a problem, especially for people who do not have a large amount of an altcoin and want to sell it on Uniswap or withdraw it off and exchange. In some cases, it costs fifty to one hundred dollars for a single transaction. There are times when the Ethereum gas fees are better, but in general, with everything being bullish and so much volume in the crypto space, it might not get better anytime soon. That is why other altcoins are moving up because people are beginning to look for alternatives to the Ethereum network.

There has been a lot of bullish news for Bitcoin over the last 24hrs. Analysts believe that Bitcoin will likely reach $60,000 this year. Still, it might go higher, though, especially with inflation kicking in, people getting stimulus packages, all the demand coming to crypto currency from the stock market, and many institutional companies buying Bitcoin.

Venmo is adding crypto, budgeting, and saving functions to its app later this year. Visa CEO has also been talking about venturing into cryptocurrency as well.

Binance Coin hit its all time high as BNB outperforms Bitcoin Cash by market cap. They are seeing all time high traffic on the Binance platform.